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Here’s what the California Franchise Tax Board says: “Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code ...
The Department of Education announced on Aug. 14 that automatic discharges would begin for 804,000 borrowers who qualify for $39 billion in student loan relief due to fixes to income-driven ...
Forgiving the first $10,000 in student loan debt for those who earn up to $125,000 will cost taxpayers an estimated $300 billion, according to the University of Pennsylvania’s Penn Wharton ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
If you’re among the millions of Americans who are eligible for the sweeping student loan forgiveness, your relief may be short-lived if you’re worried about owing taxes on your canceled debt ...
Some states might consider student loan debt forgiveness a taxable event, meaning borrowers would have to pay state income taxes on the canceled debt, according to the Tax Foundation ...
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